E-commerce spending hits new high

World online spending for 2000 reached $56bn (about £38bn) according to a new study, with consumer online spending growing by nearly half.

The study, released Tuesday by research firm ActivMedia, noted that online spending for the Christmas season reached about $8.7bn. It projects business-to-consumer sales will reach $1.1tn by 2010.

The figures are a rare ray of light on the e-commerce scene, which is mired in a continuing financial slump. E-tailers such as eToys found Christmas sales drastically worse than expected and in some cases have decided to close up shop.

"E-commerce activity is really starting to pick up steam," stated ActivMedia Research's vice president of information services, Chris Anne Wheeler. "Overall it takes time to become profitable online and those who implement solid business plans to support reasonable sales volumes should do well online going forward."

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